Search found 54 matches

by J_Markov
Tue Jul 02, 2019 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: buying new house, almost under contract - how many lenders should I get quotes from?
Replies: 2
Views: 488

buying new house, almost under contract - how many lenders should I get quotes from?

We have chosen the house we want and have agreed on purchase price and offer has been accepted. Now attorneys working to have contract ready. Before I started the process, I had gotten a couple of 'pre-approval' letters from lenders and got some quotes, but nothing went beyond that. From what I unde...
by J_Markov
Mon Mar 25, 2019 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Stretching? (Home purchase)
Replies: 20
Views: 2848

Re: Stretching? (Home purchase)

If you want to buy and burden your solvency near a housing market top good luck w/that. Again 1829 main st., Marshfield, Ma, 1 livable ranch, 5 acres! Marshfield hills, Ma. was 141k 5yrs back. Zillow it. 1.3M for a duplex, in ny? Good luck! The RE could go to 250k., BELIEVE IT. Good luck Funny. As ...
by J_Markov
Thu Jan 31, 2019 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: credit score improvement agency
Replies: 22
Views: 911

Re: credit score improvement agency

Update: First of all, thanks for all the replies. I went on and did more research. As an above poster mentioned, it seems that the process involves sending letters to the company requesting to delete that from the record. In addition, it seems another approach is mailing a letter to the credit burea...
by J_Markov
Wed Jan 30, 2019 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: credit score improvement agency
Replies: 22
Views: 911

Re: credit score improvement agency

drk wrote:
Wed Jan 30, 2019 11:05 pm

You could also contact the company that left the bad mark. Since you’ve paid off the debt, they may be willing to retract the mark.
Tried calling the company directly, was on the phone for a while talking to different people, they said they can't retract it.
by J_Markov
Wed Jan 30, 2019 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: credit score improvement agency
Replies: 22
Views: 911

Re: credit score improvement agency

fortfun wrote:
Wed Jan 30, 2019 10:55 pm
J_Markov wrote:
Wed Jan 30, 2019 10:49 pm
Have you tried contacting the credit reporting agencies directly?
I have not. Didn't think of that one. Can I ask them to remove it? Would you just call their customer service?
by J_Markov
Wed Jan 30, 2019 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: credit score improvement agency
Replies: 22
Views: 911

credit score improvement agency

My FICO score has been in the 720s. I have no CC debt, and pay my credit cards in full every month. I've been shopping for a mortgage lately and was told that to get the best possible interest my score must be above 760. One of the bank mortgage officers I spoke with recommended me a company to work...
by J_Markov
Tue Jan 08, 2019 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: roth IRA conversion question (while having SEP IRA)
Replies: 1
Views: 98

roth IRA conversion question (while having SEP IRA)

I've been doing backdoor roth IRA since a couple of years. On 2018, I contributed about 20k to a SEP IRA for the 2017 tax year. I have left that money in that SEP IRA since then. My question is, can i do my roth conversion for 2019 as i've done routinely (contribute to traditional IRA, wait a few da...
by J_Markov
Sat Jan 05, 2019 12:32 am
Forum: Personal Finance (Not Investing)
Topic: How Much House Can I Afford (HCOL edition)
Replies: 22
Views: 3843

Re: How Much House Can I Afford (HCOL edition)

Reviving an old thread. I'd be curious to know what the OP did in the end. One observation is that a 600k gross income in a place like NYC would typically translate into about a 350k take home after taxes. If you subtract mortgage payments for a 2 million dollar mortgage for 30 years, plus property ...
by J_Markov
Mon Dec 17, 2018 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Physician Loan and Buy vs Rent (already searched forums)
Replies: 33
Views: 2077

Re: Physician Loan and Buy vs Rent (already searched forums)

Agree with above, more specifics would be very helpful.
by J_Markov
Sat Aug 25, 2018 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: rent vs buy 'luxury' condo in HCOL area
Replies: 10
Views: 1318

Re: rent vs buy 'luxury' condo in HCOL area

10k/month -2k of principle payments -2k of tax savings = 6k/month. Or roughly the same cost. Obviously you need to put in your exact numbers but it doesn't sound like much, much more expensive. It might be marginally cheaper or marginally more expensive. [/quote] Didn't realize the tax savings were...
by J_Markov
Sat Aug 25, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: rent vs buy 'luxury' condo in HCOL area
Replies: 10
Views: 1318

rent vs buy 'luxury' condo in HCOL area

Dual income family here living a HCOL city. When we initially moved here a couple of years ago we decided to rent a very nice condo in a building with lot of nice amenities. We thought we would eventually move to a single family, but we have come to appreciate life in a condo, and since we both are ...
by J_Markov
Mon Aug 06, 2018 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: I pay $6K in rent. Am I an idiot for not buying?
Replies: 76
Views: 14842

Re: I pay $6K in rent. Am I an idiot for not buying?

What are the thoughts on this board on Williams Bernstein rule of rent vs buying? Multiply fair market value rent x 180, if buying value higher than that then renting is better. If you apply this rule to many of the large coastal metropolitan areas, you're probably better off renting.
by J_Markov
Sun Aug 05, 2018 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: I pay $6K in rent. Am I an idiot for not buying?
Replies: 76
Views: 14842

Re: I pay $6K in rent. Am I an idiot for not buying?

Reviving an old thread, and curious about what the OP ended up doing. I'm in a somewhat similar situation. I've been renting for 5700/month for two years now, but my landlord wants to sell condo asking price of 1.3 million. I've done the calculation and once I factor in HOA (1300/month) and taxes (2...
by J_Markov
Thu Jul 05, 2018 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Affording a $1.8-2M house
Replies: 54
Views: 9897

Re: Affording a $1.8-2M house

The OP clarified those 60-80k also included other expenses including housekeeper, nanny, etc... Or at least that's what I understood.
by J_Markov
Wed Jul 04, 2018 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Affording a $1.8-2M house
Replies: 54
Views: 9897

Re: Affording a $1.8-2M house

Agree with above, not sure it makes so much financial sense to buy in a HCOL city. I've been renting in a HCOL area. I live in the city, very nice apartment, close to many things. I pay about 6k/month. If I were to buy the same apartment, taking into consideration taxes, HOA fees, assuming a 20% dow...
by J_Markov
Wed Jul 04, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Affording a $1.8-2M house
Replies: 54
Views: 9897

Re: Affording a $1.8-2M house

As said above, why not renting in the city?
by J_Markov
Thu Mar 08, 2018 8:04 pm
Forum: Investing - Theory, News & General
Topic: Portfolio and asset allocation question - different 'buckets'?
Replies: 4
Views: 675

Re: Portfolio and asset allocation question - different 'buckets'?

Why do you need to save for mortgage down payment? Why do you need a separate portfolio to deal with this? KlangFool From what I have read here the consensus is that if you're saving for a down payment (we have a flexible horizon, could be 1-3 years), it should be in liquid assets (savings account,...
by J_Markov
Thu Mar 08, 2018 4:02 pm
Forum: Investing - Theory, News & General
Topic: Portfolio and asset allocation question - different 'buckets'?
Replies: 4
Views: 675

Portfolio and asset allocation question - different 'buckets'?

I understand the concept of managing all your portfolio as a single entity in regards to asset allocation. However, how do most people manage this when you have money for different purposes? Do you take all that money into account for the purpose of asset allocation? For example, I am using target f...
by J_Markov
Wed Feb 28, 2018 9:02 am
Forum: Personal Investments
Topic: Advice on taxable account investments for retirement and down payment
Replies: 15
Views: 1911

Re: Advice on taxable account investments for retirement and down payment

agree with the dollar cost average... i would also be a little hesitant to put a lump sum on the market now given the current conditions. Maybe start putting a certain sum every month.
by J_Markov
Tue Feb 27, 2018 10:43 pm
Forum: Personal Investments
Topic: Advice on taxable account investments for retirement and down payment
Replies: 15
Views: 1911

Re: Advice on taxable account investments for retirement and down payment

Are you also contributing to your child's 529?

Investing most of your taxable in stocks if you're planning to use most of it for such large down payment may be a little risky if you have a specific timeline of when to buy.
by J_Markov
Fri Jan 26, 2018 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: solo 401k advice
Replies: 6
Views: 634

solo 401k advice

I need to open a solo 401k and looking for advice of where to do it. I have my roth and taxable accounts at Vanguard, so was wondering if Vanguard would also be a good option for the solo 401k. It seems that to open the solo 401k you need to go through their small business website and open a differe...
by J_Markov
Tue Jan 09, 2018 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA for 2017 question
Replies: 16
Views: 1262

Re: SEP IRA for 2017 question

So you're a independent contractor to the S-Corp and not an or employee paid on a W2 or shareholder? No K-1? Sorry for the confusion. I started an LLC last year (which I needed to pursue my side business). I'm the sole proprietor. Yes you can do a SEP as a sole prop with an LLC. Thank you for the c...
by J_Markov
Tue Jan 09, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA for 2017 question
Replies: 16
Views: 1262

Re: SEP IRA for 2017 question

[/quote]So you're a independent contractor to the S-Corp and not an or employee paid on a W2 or shareholder? No K-1?
[/quote]




Sorry for the confusion. I started an LLC last year (which I needed to pursue my side business). I'm the sole proprietor.
by J_Markov
Tue Jan 09, 2018 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA for 2017 question
Replies: 16
Views: 1262

Re: SEP IRA for 2017 question

Generally you can open and fund a SEP up until the due date of your tax return + extensions. (~Oct 15, 2018). Contribution limit would 20% of net profit adjusted by 1/2 of SE tax. Backdoor Roth makes no difference. Thank you. Does that rule also apply if I'm getting the income through an LLC (taxed...
by J_Markov
Tue Jan 09, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: SEP IRA for 2017 question
Replies: 16
Views: 1262

SEP IRA for 2017 question

Here's my situation: most of my income was W2 on 2017. I maximized my employer 401k, and also did a backdoor ROTH for 2017. I did get 1099 income on a side job. My question is, can I still open a SEP IRA for my 2017 1099 income at this point, even if I did a backdoor Roth that year? This year, I'm l...
by J_Markov
Wed Dec 06, 2017 6:37 pm
Forum: Investing - Theory, News & General
Topic: Crypto-Currency
Replies: 29
Views: 3541

Re: Crypto-Currency

One concern would be that if the Fed or any other central bank comes up with their own cryptocurrency Bitcoin and the other cryptocurrencies would basically have no value.
by J_Markov
Wed Dec 06, 2017 6:36 pm
Forum: Investing - Theory, News & General
Topic: Crypto-Currency
Replies: 29
Views: 3541

Re: Crypto-Currency

greg24 wrote:
Wed Dec 06, 2017 4:41 pm
I am shorting Bitcoin and most other crypto-currencies.
How are you shorting Bitcoin?
by J_Markov
Mon Dec 04, 2017 4:28 pm
Forum: Personal Investments
Topic: Which Vanguard MMF?
Replies: 13
Views: 2905

Re: Which Vanguard MMF?

Regarding the government funds, what's the difference between the federal and the treasury? Said respectfully . . . Your original post said that you had "seen" these funds, but it's not clear whether that means only that you're aware of their existence, or that you've actually done any of your own ...
by J_Markov
Mon Dec 04, 2017 12:34 pm
Forum: Personal Investments
Topic: Which Vanguard MMF?
Replies: 13
Views: 2905

Re: Which Vanguard MMF?

Thank you for the replies. So it seems that the main difference between the 'retail' and the 'government' MMFs, aside from the different yields, is the 'level of risk'. So within the retail funds, the tax-exempt would make more sense than the prime? Regarding the government funds, what's the differe...
by J_Markov
Mon Dec 04, 2017 9:27 am
Forum: Personal Investments
Topic: Which Vanguard MMF?
Replies: 13
Views: 2905

Which Vanguard MMF?

I have all my taxable accounts in Vanguard. Currently I'm trying to set some money aside every month and keep in liquid/cash, so thinking of using one of Vanguard MMFs. This is money that I could be using in the next 6-9 months (may or may not use it, so don't want to risk it on stocks). My question...
by J_Markov
Fri Dec 01, 2017 10:05 am
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 100
Views: 12914

Re: Is there any reason to invest in real estate?

If anyone is interested, here is the spreadsheet I developed to analyze properties before purchasing them. It looks better if you download it and open it in Excel. If anyone finds any bugs, please let me know. Thank you, very helpful. I have a few questions for you: are all your rental properties i...
by J_Markov
Thu Nov 16, 2017 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: tax strategy for side income
Replies: 15
Views: 1577

Re: tax strategy for side income

But why would you elect to be taxed as an S-Corp? As an S-Corp you have to pay the employer portion of social security even if your income as an employee is above the cap between your two W2 jobs - which actually means increased tax burden relative to a sole proprietor who doesn't have to pay the a...
by J_Markov
Thu Nov 16, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: tax strategy for side income
Replies: 15
Views: 1577

Re: tax strategy for side income

avalpert wrote:
Thu Nov 16, 2017 4:12 pm
J_Markov wrote:
Thu Nov 16, 2017 3:48 pm
In that case open a Solo-401k (do it now so you get it done before end of year) and you can put in 20% adjusted net income as an employer match.
I actually registered an LLC (S-corp). Does that mean I can put aside 25% of gross income I get as 1099?
by J_Markov
Thu Nov 16, 2017 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: tax strategy for side income
Replies: 15
Views: 1577

Re: tax strategy for side income

Hi everyone, Just wanted to update on what has happened with my side job. It actually turned out to be much more lucrative than what I thought as I obtained some unexpected contracts. My income on my personal side business will be in the mid to high 5 figures. So I'm going to ask the same questions ...
by J_Markov
Thu Nov 16, 2017 3:33 pm
Forum: Investing - Theory, News & General
Topic: Buying and Spending Bitcoin
Replies: 199
Views: 32703

Re: Buying and Spending Bitcoin

Forgive my ignorance on monetary policy, but can the Federal Reserve come up with a cryptocurrency? In other words, can they decide one day that they will substitute the dollar for their own cryptocurrency? In Europe many countries were switched to the Euro in the not so distant past, could they do ...
by J_Markov
Thu Sep 21, 2017 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: What is the right career path for me?
Replies: 24
Views: 3179

Re: What is the right career path for me?

To the OP: Keep in mind that if you go the MD/ortho route you will need 4 years of med school + 5 years of residency (and possibly 1 additional year of fellowhsip). When are you planning to apply to med school? You'll need time to get your application ready. Did you take the MCAT? In any case, you w...
by J_Markov
Mon Jul 24, 2017 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in an AirBNB unit? ROI?
Replies: 32
Views: 4771

Re: Investing in an AirBNB unit? ROI?

I wouldn't use your cash to purchase the property. I'd put 20% down payment and then finance the rest with a 15-year mortgage. You should be able to pay the mortgage and other monthly expenses with the rental income, and still get a few hundred bucks left. After 15 years the property is entirely you...
by J_Markov
Wed Apr 12, 2017 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: tax strategy for side income
Replies: 15
Views: 1577

Re: tax strategy for side income

Thank you, everyone, for the advice.

It seems that for now there's not much advantage in doing anything specific regarding tax deferred contributions. I will probably just try to maximize every other possible tax deduction that comes with earning 1099 money (car expenses, meals, travel, etc...).
by J_Markov
Wed Apr 12, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: tax strategy for side income
Replies: 15
Views: 1577

tax strategy for side income

I recently started making some extra income on the side as an IC and I'm trying to figure out the best strategy going forward when it comes to taxes. My current situation is that I'm a full-time employee making most of my income, by far, as W2. I've been maximizing 401k and doing backdoor roth. I re...
by J_Markov
Fri Apr 07, 2017 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Citi Costco Visa vs. Chase Sapphire Reserve
Replies: 73
Views: 26142

Re: Citi Costco Visa vs. Chase Sapphire Reserve

Agree with posts above. CSR and costco cards are completely different. The big advantage of the URs is that you can transfer them to airline miles which are then worth quite a bit. Costco cards sends you a check once a year.
by J_Markov
Tue Apr 04, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Enjoying the journey to retirement
Replies: 23
Views: 3306

Re: Enjoying the journey to retirement

what happens when you truly love your job and don't feel like retiring at all? In fact, what happens when the thought of retiring has the opposite effect on you, it scares you and bring you down? Has this happened to many here?
by J_Markov
Wed Mar 29, 2017 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3887
Views: 721452

Re: What's Your Credit Card Rewards Strategy?

No, I was talking about calling in. When I said United computer, I meant the computer the CSR rep was using to create the itinerary. If you book an award ticket, no flight system will let you book an illegal route whether you do so by calling in or by using the website. The only time a not-possible...
by J_Markov
Wed Mar 29, 2017 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3887
Views: 721452

Re: What's Your Credit Card Rewards Strategy?

Regarding amount of time to get to your next plane--the United computer will reject the itinerary if it doesn't leave enough time. It's never happened to me, but presumably the CSR would say "sorry that's not a valid itinerary." You won't be able to book anything "illegal." Once your itinerary is p...
by J_Markov
Wed Mar 22, 2017 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3887
Views: 721452

Re: What's Your Credit Card Rewards Strategy?

This may be too much information, but below is what we have done, strategy-wise, since January 2016. (Anyone know how to make the formatting work? It looks great before I submit....) I have done very little MSing. Our spend on credit cards, as a family, is usually around $3-5K/mo. I tried to spread...
by J_Markov
Tue Mar 14, 2017 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Another rent versus buy - moving from MCOL to VHCOL
Replies: 15
Views: 2028

Re: Another rent versus buy - moving from MCOL to VHCOL

I'd think the budget you have seems tight. Did you calculate other expenses such as vacation, cars, etc...? Unless you're already tied to the Bay area for family reasons, I would personally rent for a couple of years just to make sure you like the new job.
by J_Markov
Thu Mar 09, 2017 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 312
Views: 71626

Re: Physician Retirement Savings

:beer -PoF Great blog and nice post. Regarding geographic arbitrage, most salary comparisons between urban vs rural and between geographic regions do not break down the data to account for differences in distribution of practice types which exist. Particularly in procedural specialties where there ...
by J_Markov
Tue Mar 07, 2017 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 312
Views: 71626

Re: Physician Retirement Savings

Seeing all these posts about high salaries makes me want to leave Boston! I'll be a cardiologist in a few years. If I were to stay in the actual city of Boston, my colleagues are receiving job offers for full-time cardiology positions starting as low as $120k. I've heard you can negotiate up to $16...
by J_Markov
Mon Mar 06, 2017 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3887
Views: 721452

Re: What's Your Credit Card Rewards Strategy?

Quick question: I just got he chase sapphire preferred last week without really knowing much about the sapphire reserve... I just realized that if i open the reserve before Friday I get 100k bonus points. Does it make sense to open the reserve at this point just to get those 100k points? My strateg...
by J_Markov
Mon Mar 06, 2017 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3887
Views: 721452

Re: What's Your Credit Card Rewards Strategy?

Quick question: I just got he chase sapphire preferred last week without really knowing much about the sapphire reserve... I just realized that if i open the reserve before Friday I get 100k bonus points. Does it make sense to open the reserve at this point just to get those 100k points? My strategy...
by J_Markov
Wed Jan 25, 2017 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Best CC for Travel
Replies: 82
Views: 16580

Re: Best CC for Travel

Congrats to your wife! Me, I preferred, and still do, Chase's Mileage Plus Visa, where you earn one air mile for every dollar charged. There's an annual fee, but I've flown first class for the cost of Economy more times than I can count, by drawing on the miles earned in that program. (I charge eve...